I'm LongbridgeAI, I can summarize articles.According to the announcement from Anjoy Foods (02648), Anjoy Foods Group Co., Ltd. (hereinafter referred to as "Anjoy Foods" or "the Company") plans to jointly establish a pathway company, Anjoy Foods Investment Limited (hereinafter referred to as "the Hong Kong pathway company"), in Hong Kong with Mutual Strategy Limited (hereinafter referred to as "the partner"). The pathway company will invest in the establishment of a production subsidiary in Indonesia, PT IndoAnjoy Sukses Makmur (hereinafter referred to as "the Indonesian production subsidiary"), and a trading subsidiary, PT IndoAnjoy Food Indonesia (hereinafter referred to as "the Indonesian trading subsidiary," collectively referred to as "the Indonesian subsidiaries").
Hong Kong Anjoy and the partner commit to contributing a total of no less than USD 74.25 million in cash to the Hong Kong pathway company, with respective shareholding ratios of 50.5% and 49.5%. Based on the minimum contribution amount, Hong Kong Anjoy will contribute USD 37.49625 million from its own funds, while the partner will contribute USD 36.75375 million.
After the establishment of the Indonesian subsidiaries, they will leverage the Company's advantages in operational management, product research and development, production technology, brand building, and standardized operations, combined with the partner's resources in market channels, raw material supply, and localized operations in the Indonesian market, to produce and sell products such as frozen fish paste products, frozen sausages, frozen noodle and rice products, as well as ambient leisure sausages and ambient leisure fish paste products. Both parties aim to gradually establish a product research and development, production manufacturing, supply chain management, and market sales system that meets the demands of the Indonesian and surrounding markets through complementary advantages and resource synergy, promoting the international development of the Company's products and brand